"With Datawatch|BDS, Morgan Keegan's statements, invoices, trade confirms, tax forms, reports, signature cards, applications and more are captured from geographically dispersed sites, with centralized storage for instant access from any location"

 

Premier regional investment firm Morgan Keegan & Company offers full-service investment banking, securities brokerage, and trust and asset management from over 200 offices in 18 states. Banking services are provided through 1,400 Regions Bank and Union Planters Bank locations across a 15­state area. Routing, managing and archiv­ing documents to support customers across this vast operations network presented a tremendous logistics challenge.

Strong growth within the firm brought volumes of paperwork along with the expanding Morgan Keegan client base. A micro-fiche-based platform could not keep up with the workload and deliver quick content access for customer service and institutional investors. The company also needed a better process for new account paperwork. New branch accounts could create up to 60 different documents over the life of the account. Under the old model, documents were processed manually, then a courier delivered paperwork from each branch to the main office in Memphis, TN. The paperwork was converted to microfiche, but only certain people had access to the information at any time due to the limitations of the storage technology.

The monthly distribution of 1,200 printed employee statements to Morgan Keegan managers also urgently needed streamlining. Each manager reviews approximately 150 statements for signs of non-compliance or fraud. Faster distribution of these documents could create a tremendous time savings, while improving productivity and operational efficiency.

MISSION-CRITICAL SUPPORT

Morgan Keegan turned to Datawatch Corporation to build multiple solutions on their Datawatch|BDS (Business Document Server) . Datawatch Corporation, an established provider of flexible, on-demand enterprise content management solutions, offers a number of innovative products specifically designed to capture, store, manage and deliver business-critical information-exactly what Morgan Keegan needed.

Datawatch|BDS meets the demands of high-volume business document management from ingestion to delivery. BDS provides rich functionality and high performance for imaging, document capture and archiving, fast retrieval, remote web-based access, and automated e-notification. It's SOAP-compliant APIs enable easy integration with trading systems, web portals and other applications. With Datawatch|BDS, Morgan Keegan's statements, invoices, trade confirms, tax forms, reports, signature cards, applications and more are captured from geographically dispersed sites, with centralized storage for instant access from any location. Morgan Keegan Customer Service as well as remote branch locations and brokers all have immediate, easy access to these customer documents.

New account documents, even from remote branch locations, are archived electronically in the home office central repository, with no manual document routing.

Centralization provides secure enterprise-wide work processes and instant access to customer information from any location. So far, about 55 of the 250 Morgan Keegan branches have implemented the Business Document Server's imaging capabilities for scanning new account information. Eventually, all 250 locations will implement document imaging, with CD services available for smaller branches.

MILLIONS OF DOCUMENTS DAILY

Datawatch|BDS offers a proven way for Morgan Keegan to archive and retrieve massive volumes of transactions. The system automatically manages business-critical information and documents, seamlessly adjusting for varying sources and formats. Datawatch|BDS can effortlessly ingest millions of print and electronic files daily, even hourly. It scales to support thousands of concurrent users and can provide internal user access only, or easy self-service applications for customers.

"The Business Document Server also allowed Morgan Keegan to offer Clients online access to statements and trade confirmations through the Morgan Keegan website."

INSTANT ACCESS FOR BROKERS, CUSTOMERS, AND REMOTE OFFICES

Morgan Web-based access to account documents from remote branch locations, productivity and customer responsiveness is improved for Morgan Keegan. In addition, Datawatch|BDS is now integrated with the company's website for client and broker access. Instant retrieval and viewing of documents has reduced Morgan Keegan's customer service calls. Brokers no longer have to call customer service for customer documents; they can go on-line and retrieve a copy. Institutional investors have fast online access to statements. Customer care is improved, while print and mail costs are reduced. Additionally, the open architecture has allowed Morgan Keegan to easily create custom solutions, such as instant trade confirmation access for broker/dealers directly from the company's trade system. Such integration can improve user adoption and eliminate the need for additional user training.

Morgan Keegan has 30,000 customers who prefer online transactions and e-statements. With print and mail costs of $1.50 per statement, online service can result in potential savings of $45,000 per month. To handle this important customer-facing application flawlessly, Morgan Keegan needed exactly the right solution. The Business Document Server also allowed Morgan Keegan to offer Clients online access to statements and trade confirmations through the Morgan Keegan website. Morgan Keegan can now reduce costs and improve customer service with online state­ment presentment, customer self-service and enterprise report distribution.

A high performance platform and ease of integration helped make Datawatch the clear choice for Morgan Keegan. User-friendly Web-based access to documents reduces the need for IT support and makes it easier to learn and employ the technology consistently across the enterprise. As Morgan Keegan continues to grow and solidify its leadership position, they can be confident that Datawatch|BD Sis expertly handling so many mission-critical processes.

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